WWE's Net Income Drops 83% In 2019
Quarterly earnings report notes decline in ticket sales, merchandise AND Network subscribers.
WWE's net income has dropped 83% between Quarter Three of 2018 and its equivalent this year, according to The Wrap's Tony Maglio.
This was confirmed as part of their earnings report, alongside a host of other tidbits diligently dispersed over Twitter by Maglio following the release. He said "WWE's net income dropped 83% from last Q3 to this one. That's due to performance and fewer tax benefits.
That's a big number on a percentage basis, but we're dealing with a relatively light income to begin with ($33.6million to $5.8million), which makes it look so dramatic".
It was just one of a series of statistics that showed finances creeping in the wrong direction, with notes on decline in ticket sales, merchandise, live event revenue, Network subscribers, television ratings, attendances and events.
Maglio commented further that "WWE missed [out] on Wall Street's #Q3 revenue forecasts by $5million" but also stopped to add that "6 cents per-share earnings were 4 pennies better than what media analysts expected".
More insights, information and opinions can be found on Maglio's detailed timeline, and are likely to filter through throughout the day as more emerges from the hefty documents.